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Iran has granted bitcoin miners exclusive access to electricity generated from three power plants for their mining activities, according to state power utility Thermal Power Plant Holding Company (TPPH). Mohsen Tarztalab, managing director of TPPH, told a local news agency on Monday that the “necessary equipment has been installed in three power plants of Ramin, … Read more
It seems that the private sector is not satisfied with the country’s local fiat money. Go to Source Powered by WPeMatico
China is not the only country that wants control of this highly coveted industry. Go to Source Powered by WPeMatico
The SHA256 hashrate that secures the Bitcoin network has grown massively during the last few years, as Bitcoin’s processing power has touched all-time highs in 2020. Moreover, the gigawatts of electrical consumption powering industrial bitcoin mining today consumes as much as seven nuclear power plants. Bitcoin mining is a process where groups of miners compete … Read more
Iran is rewarding people who turn in crypto miners operating without a license. Go to Source Powered by WPeMatico
Iran’s Power Generation, Distribution, and Transmission Company (Tavanir) has reportedly shut down 1,100 illegal bitcoin mining farms in the country, local media reported. Whistle-blowers tipped off authorities on unauthorized miners following a July announcement of rewards including 100 million rials (about $2,400). Tavanir deputy head Mostafa Rajabi Mashhadi told Fars News Agency that the blitz … Read more
During the last few months, crypto proponents have focused their attention on Iran. The Iranian President Hassan Rouhani initiated a new mining strategy last May, and the government-licensed 14 bitcoin mining farms in July. According to the Chinese mining operation Lubian, it claims to operate one of these regulated bitcoin mining farms in the oil-rich … Read more
Iran’s government OKs power plants mining crypto as the country moves forward with a national strategy for cryptocurrency mining. Go to Source Powered by WPeMatico
According to Iranian authorities, power plants can mine cryptocurrencies like Bitcoin, but will not be able to take advantage of subsidies. Go to Source Powered by WPeMatico
A new report by crypto research company Bitooda claims that China accounts for only 50% of global Bitcoin mining capacity, and the U.S. 14%. The data is in sharp contrast with earlier findings from the University of Cambridge Centre for Alternative Finance (CCAF), which put China’s share of the world hash rate at 65% and … Read more
